Unfair Claims Practice
Abuse by an insurer in an effort to avoid paying a claim filed by an insured, or to reduce the size of the payment. The national association of insurance commissioners (naic) has developed model legislation requiring that claims be handled fairly and that there be free communication between policyholder and insurer. Many states have adopted unfair claims practice laws.
Popular Insurance Terms
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Representative of a single insurer or fleet of insurers who is obliged to submit business only to that company, or at the very minimum, give that company first refusal rights on a sale. In ...
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Statistical projection of future deaths. ...
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